I’m renting this year for the first time since 1992, so I’ve been interested in monitoring rents lately. From what I can gather on craig’s list and the paper, rents are holding steady for houses. Can’t speak to apartments as I have not been looking at them.
I think in this market rents for houses could actually go down. I’ve talked to several sellers who have told me “well if we can’t sell at the price we want we’ll rent it out”. I’ve also looked at a number of homes that have been vacant for many months. All of this leads me to beleive there could be a significant number of rental homes coming on the market in the next year or two.
